Autonomous heavy truck company DeepWay recently closed a substantial Pre-IPO funding round, raising over $310 million in total—the largest single financing in the heavy-duty autonomous trucking sector in the past five years. This round was led by UAE-based Stone Capital, with participation from Australia’s NGS Super pension fund and Xiamen Guosheng Fund. Existing investors ABC Impact and Nanjing Ronghe Venture Capital also increased their stakes. The proceeds will be used to advance autonomous driving technology development and accelerate the global commercialization of driverless freight robots. The company plans to leverage the extensive international networks of its three new global shareholders to expedite overseas expansion by 2026. Previously, in late January 2025, DeepWay completed another Pre-IPO round, raising RMB 1.177 billion led by Puhua Capital, with participation from multiple institutional investors. Those funds were primarily allocated to core business operations and growth. Founded jointly by Baidu and Lionbridge, DeepWay is China’s first company to achieve forward-designed, developed, and mass-produced intelligent new-energy heavy trucks. The company focuses on short-haul bulk freight transportation along fixed routes—a segment accounting for approximately 40% to 50% of total road freight volume. All its vehicle models now come standard with an integrated advanced driver-assistance system (ADAS) and have been delivered at scale. Its high-level autonomous driving product—the intelligent platooning truck—has entered mass production and is already conducting revenue-generating operations in Inner Mongolia and Xinjiang, having secured autonomous driving test licenses in multiple regions. DeepWay is also actively testing end-to-end autonomous technologies and单车智能 (single-vehicle intelligent) driverless systems. In November 2024, DeepWay filed its prospectus with the Hong Kong Stock Exchange, aiming for a main board listing. China International Capital Corporation (CICC) and CMB International are acting as joint sponsors. According to the prospectus, as of June 30, 2025, the company had delivered approximately 6,400 new-energy heavy trucks since commencing commercial operations in 2023. Revenues for 2023, 2024, and the first half of 2025 amounted to RMB 426 million, RMB 19.69 billion, and RMB 15.06 billion, respectively, with new-energy heavy truck sales comprising over 90% of total revenue. Net losses during the same periods were RMB 3.89 billion, RMB 6.75 billion, and RMB 3.71 billion. R&D investment has continued to grow steadily, with expenditures of RMB 2.31 billion, RMB 3.52 billion, and RMB 3.65 billion in 2022, 2023, and 2024, respectively, and RMB 1.79 billion in the first half of 2025—an increase of approximately 4.4% year-over-year. Pre-listing ownership structure shows that Wan Jun holds approximately 26.22% of shares directly and indirectly, making him the largest single shareholder. Wan Jun is the founder, chairman, and CEO of Lionbridge Group, as well as the founder and CEO of DeepWay. Meanwhile, other autonomous heavy truck companies have also secured significant funding: QCraft (Karl Power) closed a Series B round exceeding $100 million in March 2025, while Zero One Auto raised RMB 1.2 billion on March 12—just six months after its RMB 500 million Series A round. Industry analysts note that as intelligent driving technologies gain traction in scenarios such as long-haul logistics, ports, mines, and industrial parks—combined with declining hardware costs, improved vehicle-to-infrastructure (V2X) coordination, and gradually relaxed regulations—the autonomous heavy truck sector is transitioning from pilot demonstrations to large-scale commercial deployment, with a viable commercialization loop now largely established.